WorldRemit vs Remitly: Which Works Best for Nigerians in Canada?

Introduction

As a Nigerian living in Canada, I've personally struggled with finding the perfect money transfer service. Between supporting family back home and handling business transactions, the fees and poor exchange rates from traditional services can be quite frustrating. Today, I'll compare WorldRemit and Remitly – two popular options among our community – but I'll also share why many of us are switching to something much better.

Understanding the Need for Reliable Money Transfers

Let's face it – sending money home isn't optional for most of us. According to Statista, Nigeria receives over $20 billion in remittances annually, with Canadian Nigerians contributing significantly. Whether it's family support, school fees, or business investments, we need affordable and fast solutions.

Traditional banks? They'll charge you $15-50 per transfer plus terrible exchange rates. That's money that could go to your family instead.

WorldRemit vs Remitly: The Real Comparison

WorldRemit Overview

WorldRemit has been around since 2010, serving 130+ countries. For Nigeria, they offer bank transfers, cash pickup, and mobile money options. Their fees range from CAD $3.99 to $9.99, but here's the catch – their exchange rate margins are typically 2-4% below market rates.

The platform is reliable, I'll give them that. Transfers usually complete within hours, and they have good coverage across Nigeria through partnerships with major banks like GTBank and First Bank.

Remitly's Approach

Remitly offers two tiers: Express (fast but expensive at CAD $8.99-$14.99) and Economy (slower but cheaper at CAD $1.99-$4.99). Their exchange rate margins vary from 1.5-5%, which can significantly impact larger transfers.

Express transfers complete within minutes, while Economy takes 1-3 business days. Both offer similar delivery options in Nigeria.

The Hidden Costs Problem

Here's what both platforms won't tell you upfront: the real cost isn't just the transfer fee. It's the exchange rate markup that quietly eats into your money. On a CAD $1,000 transfer, you could lose $20-50 just on poor exchange rates alone.

This is exactly why I started exploring alternatives, and that's when I discovered the best app to sell your bitcoins – CoinCola.

Why CoinCola is Changing the Game

Let me explain how CoinCola revolutionized my money transfers. Instead of using traditional remittance services, you buy Bitcoin in Canada and use CoinCola's P2P trading platform to sell directly to Nigerian buyers for Naira.

The best app to sell your bitcoins, CoinCola offers something WorldRemit and Remitly can't match – real market rates. Through P2P trading, you're dealing directly with other users, which means better exchange rates and lower overall costs.

CoinCola's Superior Features

P2P Trading Excellence

CoinCola's P2P trading system connects you directly with Nigerian buyers. This eliminates the middleman markups that traditional services impose. I've consistently gotten 3-5% better rates compared to WorldRemit or Remitly.

Robust Escrow Services

Security was my biggest concern initially, but CoinCola's escrow services provide unmatched protection. When you sell your Bitcoin, the funds are held in escrow until both parties confirm the transaction. It's actually safer than traditional remittance services.

Speed and Convenience

While Remitly Express might be fast, CoinCola's P2P trading can complete transfers within minutes once you find a buyer. The best app to sell your bitcoins also operates 24/7, unlike traditional services with business hour limitations.

Real-World Comparison

Last month, I needed to send CAD $800 home urgently. WorldRemit would have cost me $8.99 in fees plus about $25 in exchange rate losses. Remitly Express was similar at $12.99 plus rate markups.

Using CoinCola, I bought Bitcoin and used their P2P trading platform to sell to a Nigerian buyer. Total cost? Less than $10, and the transfer completed in 20 minutes. The escrow services ensured everything was secure.

Why More Nigerians Are Switching

The best app to sell your bitcoins isn't just about better rates – it's about control. With CoinCola's P2P trading, you choose your buyer, negotiate rates, and complete transactions on your terms. The escrow services provide security that traditional platforms can't match.

Conclusion

While WorldRemit and Remitly serve their purpose, they're expensive solutions to a problem that crypto P2P platforms solve better. CoinCola's combination of P2P trading, robust escrow services, and superior rates makes it the best app to sell your bitcoins and transfer money home.

If you're tired of losing money to poor exchange rates and high fees, give CoinCola a try. The P2P trading platform and escrow services will change how you think about international money transfers.

FAQs

1. Is CoinCola safe for money transfers?

Yes, CoinCola's escrow services and P2P trading system provide excellent security for all transactions.

2. How does CoinCola compare to WorldRemit and Remitly?

CoinCola typically offers 3-5% better exchange rates through P2P trading, making it more cost-effective than traditional remittance services.

3. What makes CoinCola the best app to sell bitcoins?

The combination of P2P trading, secure escrow services, and competitive rates makes CoinCola superior to traditional platforms.

4. How fast are CoinCola transfers?

P2P trading on CoinCola can complete within minutes, often faster than express services from traditional platforms.

5. Do I need crypto experience to use CoinCola?

No, CoinCola's platform is user-friendly, and their escrow services make P2P trading safe for beginners.